XML 38 R24.htm IDEA: XBRL DOCUMENT
v3.21.1

Parent Company Financials. | 12 Months Ended
--- | ---
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIALS. |
17. | PARENT COMPANY FINANCIALS.
Restricted Net Assets – At December 31, 2020, the Company had approximately $262,200,000 of net assets at its subsidiaries that were not available to be transferred to Alto Ingredients in the form of dividends, distributions, loans or advances due to restrictions contained in the credit facilities of these subsidiaries. Parent company financial statements for the periods covered in this report are set forth below.
|  | December 31, |
ASSETS |  | 2020 |  |  | 2019 |
Current Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 25,632 |  |  | $ | 4,985 |
Receivables from subsidiaries |  |  | 15,548 |  |  |  | 13,057 |
Other current assets |  |  | 1,836 |  |  |  | 2,349 |
Total current assets |  |  | 43,016 |  |  |  | 20,391 |
Property and equipment, net |  |  | 142 |  |  |  | 269 |
Other Assets: |  |  |  |  |  |  |  |
Investments in subsidiaries |  |  | 246,518 |  |  |  | 218,464 |
Right of use lease assets |  |  | 2,985 |  |  |  | 3,253 |
Alto West LLC receivable |  |  | 42,649 |  |  |  | 55,750 |
Other assets |  |  | 1,088 |  |  |  | 1,452 |
Total other assets |  |  | 293,240 |  |  |  | 278,919 |
Total Assets |  | $ | 336,398 |  |  | $ | 299,579 |
Current Liabilities: |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 2,001 |  |  | $ | 5,907 |
Accrued Alto Op Co. purchase |  |  | 3,829 |  |  |  | 3,829 |
Current portion of long-term debt |  |  | 25,533 |  |  |  | 10,000 |
Other current liabilities |  |  | 473 |  |  |  | 659 |
Total current liabilities |  |  | 31,836 |  |  |  | 20,395 |
Long-term debt, net |  |  | 5,564 |  |  |  | 56,110 |
Other liabilities |  |  | 2,763 |  |  |  | 3,294 |
Total Liabilities |  |  | 40,163 |  |  |  | 79,799 |
Stockholders’ Equity: |  |  |  |  |  |  |  |
Preferred stock |  |  | 1 |  |  |  | 1 |
Common and non-voting common stock |  |  | 72 |  |  |  | 56 |
Additional paid-in capital |  |  | 1,036,638 |  |  |  | 942,307 |
Accumulated other comprehensive loss |  |  | (3,878 | ) |  |  | (2,370 | )
Accumulated deficit |  |  | (736,598 | ) |  |  | (720,214 | )
Total Alto Ingredients, Inc. stockholders’ equity |  |  | 296,235 |  |  |  | 219,780 |
Total Liabilities and Stockholders’ Equity |  | $ | 336,398 |  |  | $ | 299,579 |
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |
Management fees from subsidiaries |  | $ | 11,724 |  |  | $ | 12,682 |
Selling, general and administrative expenses |  |  | 16,990 |  |  |  | 16,007 |
Loss from operations |  |  | (5,266 | ) |  |  | (3,325 | )
Fair value adjustments |  |  | (9,959 | ) |  |  | — |
Loss on debt extinguishment |  |  | — |  |  |  | (6,517 | )
Interest income |  |  | 4,011 |  |  |  | 4,600 |
Interest expense |  |  | (10,095 | ) |  |  | (9,637 | )
Other expense, net |  |  | (220 | ) |  |  | (86 | )
Loss before benefit for income taxes |  |  | (21,529 | ) |  |  | (14,965 | )
Benefit for income taxes |  |  | 17 |  |  |  | 20 |
Loss before equity in earnings of subsidiaries |  |  | (21,512 | ) |  |  | (14,945 | )
Equity in income (losses) of subsidiaries |  |  | 6,396 |  |  |  | (74,004 | )
Consolidated net loss |  | $ | (15,116 | ) |  | $ | (88,949 | )
|  | For the Years Ended December 31, |
|  | 2020 |  |  | 2019 |
Operating Activities: |  |  |  |  |  |  |  |
Net loss |  | $ | (15,116 | ) |  | $ | (88,949 | )
Adjustments to reconcile net loss to cash provided by (used in) operating activities: |  |  |  |  |  |  |  |
Equity in (income) losses of subsidiaries |  |  | (6,396 | ) |  |  | 74,004 |
Depreciation |  |  | 127 |  |  |  | 267 |
Fair value adjustments |  |  | 9,959 |  |  |  | — |
Loss on debt extinguishment |  |  | — |  |  |  | 6,517 |
Amortization of debt discounts |  |  | (230 | ) |  |  | 689 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
Other assets |  |  | 883 |  |  |  | 3,277 |
Accounts payable and accrued expenses |  |  | (5,378 | ) |  |  | 2,673 |
Accounts receivable with subsidiaries |  |  | (2,491 | ) |  |  | 2,115 |
Accounts payable with subsidiaries |  |  | — |  |  |  | (49 | )
Net cash provided by (used in) operating activities |  | $ | (18,642 | ) |  | $ | 544 |
Investing Activities: |  |  |  |  |  |  |  |
Additions to property and equipment |  | $ | — |  |  | $ | (14 | )
Investments in subsidiaries |  |  | (20,865 | ) |  |  | — |
Net cash used in investing activities |  | $ | (20,865 | ) |  | $ | (14 | )
Financing Activities: |  |  |  |  |  |  |  |
Proceeds from issuance of common stock |  | $ | 75,829 |  |  | $ | 3,670 |
Proceeds from warrant exercises |  |  | 5,500 |  |  |  | — |
Proceeds from CARES Act loans |  |  | 5,973 |  |  |  | — |
Proceeds from West receivable |  |  | 13,101 |  |  |  | — |
Debt issuances costs |  |  | — |  |  |  | (1,280 | )
Payments on senior notes |  |  | (40,249 | ) |  |  | (3,748 | )
Preferred stock dividend payments |  |  | — |  |  |  | (946 | )
Net cash provided by (used in) financing activities |  | $ | 60,154 |  |  | $ | (2,304 | )
Net increase (decrease) in cash and cash equivalents |  |  | 20,647 |  |  |  | (1,774 | )
Cash and cash equivalents at beginning of period |  |  | 4,985 |  |  |  | 6,759 |
Cash and cash equivalents at end of period |  | $ | 25,632 |  |  | $ | 4,985 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration